Why Is Bitcoin Dominance Increasing

Krutika Adani

Bitcoin Dominance rate has reached 54% just prior to the halving.

Major coins like Solana, Dogecoin, Shiba Inu, Toncoin and Cardano have lost at least 20% in the last week.

The main reason seems to be the bloodbath in the altcoin markets.

Altcoins lost up to 50% last week followed by a Bitcoin crash to $60k.

The major reason for such marketwide loss is the US Fed's decision to uphold interest rates.